Cryptocurrency sector sees new capital in-flows

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Bitcoin continues its rise against the US dollar. Increasing in market cap from ~6.34 Billion to almost exactly 6.5 Billion in a matter of weeks, the cryptocurrency has seen a corresponding rise in USD price.

As seen on the 3-month chart here, Bitcoin has rallied 5% against USD in the past month, and almost 13% the past two months.  This comes after Bitcoin was the best performing asset & currency on the face of the planet in 2015 (I cite zero hedge for that reference, yet one can as easily cite CNBC or a number of other sources).

Not only has bitcoin seen appreciation in Q1 2016, but so have several alt coins.  Ethereum may be the most notable, being worth in excess of $10.00.  Cure coin has also seen its price almost double from $0.02 to just shy of $0.04.  Several other alt coins have performed very well in recent months also.  Some have speculated this to be the result of new capital coming into the marketplace.  And judging by the rapid increase in market caps – amounting to hundreds of millions of dollars flowing into the cryptocurrency sector – those speculations appear to be spot on.

I don’t cite any sources for those numbers.  All one needs to do involves clicking around on any large exchange for alt coins, or visiting a site like Coindesk.com for Bitcoin (I prefer to follow Coindesk on Twitter, as they tweet charts with market cap info).  Volume & market cap information all exist as public knowledge.

That’s it for this update.  Follow me on Twitter & Google plus with the social icon located in the top left-hand corner of the page.  Also, share this post on social media by clicking the title and using the share icons at the bottom.  Thank you!

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